We are extremely precise about accounting issues.
As rental property managers it is our duty to keep close track on every penny of rent and each expense. Our staff work relentlessly to make sure that every property owner has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful programs in the management business: Rent Manager.
It is our practice to process and deposit rents on the same day they are received. Rents are deposited into an escrow account (not into our operating account). We prepare a monthly statement that states the rental income as well as any bills that we have paid on the rental property owner's behalf. The monthly statement is also available online. The statement will describe what monies we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end report. In January we send to the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Shenandoah County Property Management Resources
Your investment in real estate is a business like any other. As a landlord, you have expenses, income and with perseverance, you also have the expectation of financial reward.
In the business of real estate investment, nearly all cashflow comes from tenants. And that's the catch: If you have tenants, you will have problems. Even the best of tenants have needs and all properties will require maintenance or management at some point. A property management company takes all the hassle out of rental management.
Do you want understand more about our community?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who needs to find out more about Shenandoah County and nearby communities. The Guide to Real Estate includes data regarding what has sold and what is for sale, as well as many interesting facts that you may not be aware of. And, our Guide highlights quite a few of the fundamentals of living in Shenandoah County. Yes, most of this is useful for purchasers and sellers, but rental investors and tenants will probably also find this data to be very enlightening.